đź“—Â Principles of Success: Setting goals
Principles by Ray Dalio in 30 seconds:
Ask yourself:
- What you want
- What is true
- What you should do to achieve 1 in light of 2
“There are always risks out there that can hurt you badly, even in the seemingly safest bets, so it’s always best to assume you’re missing something.”
Seek out the smartest people who disagreed with you and try to understand their reasoning
Know when not to have an opinion
Balance risks in ways that keep the big upside while reducing the downside
Write down your personal fundamental principles and live by them
"Evolve or die”
The 5 steps to get what you want:
- Have clear goals
- Identify and don’t tolerate the problems that stand in the way of you achieving those goals.
- Accurately diagnose the problems to get at their root causes
- Design plans that will get you around them.
- Do what’s necessary
Be radically open-minded
Understand that people are wired very differently
Cultivate meaningful work and meaningful relationships
Create a culture in which it is okay to make mistakes and unacceptable not to learn from them
Remember that WHO is more important than WHAT
Hire right, because the penalties for hiring wrong are huge
Do what you set out to do